: A contract to buy or sell Bitcoin at a set price on a specific future date.

Alex opens an account and undergoes verification by providing his ID. Trading Bitcoin Futures Contracts | NinjaTrader

: Sites like Binance or Bybit offer "perpetual futures" that don't have an expiration date. 3. Funding and Margin

: Platforms like CME Group or Coinbase Derivatives are overseen by the CFTC and are popular for their "Micro Bitcoin" contracts, which are smaller and more manageable for beginners.

: Alex can bet on the price going up (long) or down (short) without ever touching a single Satoshi. 2. Picking a Platform Alex needs a place to trade. He has two main options: